Islamic Finance

  For several decades now, the Hong Kong dollar has been ‘pegged’ to the US dollar at 7.80 plus/minus a very narrow band (7.75 to 7.85). This means that the Hong Kong Monetary Authority has to mirror whatever the US Federal Reserve does. If Bernanke prints, Hong Kong has to print. And as you have probably noticed, Mr. Bernanke has …

  Iran’s currency virtually collapsed last week, and the public protests that followed in Tehran stirred memories of the massive anti-regime protests of 2009. This has caused excited speculation in the United States and its allies about the imminent fall of President Mahmoud Ahmadinejad, the abandonment of Iran’s uranium enrichment program, or even the end of the whole Islamic regime. …

  The havoc hitting Iran’s national finances should leave no-one under any illusions. The country is facing economic warfare from the US and its European allies. In financial terms, it is equivalent to attacking the country with a weapon of mass destruction. The disruption and hardship being inflicted on Iranian citizens is criminal and unspeakably callous. But let’s make no …

At the Clinton Global Initiative last week Goldman Sachs CEO Lloyd Blankfein said that the US could risk its status as the world’s reserve currency… Today’s AM fix was USD 1,786.50, EUR 1,380.92, and GBP 1,109.01 per ounce. Yesterday’s AM fix was USD 1,777.25, EUR 1,374.73and GBP 1,102.38 per ounce. Silver is trading at $35.08/oz, €27.13/oz and £21.84/oz. Platinum is …

  We are at War. Somebody is Going to Pay.” George W. Bush, Sept 11th, 2001. September 10, 2012 "Information Clearing House" – –  Eleven years later, we are still at war. Bullets, mortars and drones are still extracting payment. Thousands, tens of thousands, millions have paid in full. Children and even those yet to be born will continue to …

“…I trust that you will agree that Islamic Finance, at least for jurisdictions like Hong Kong, means change – a change perception, a change in skills, a change in structures and techniques, in contracts, standards, and so on. Change in all its many forms, is happening within the global Islamic finance arena, even as we speak…” – Mr. Eddie Yue, Deputy Chief Executive …